Freeport Contract extension will decide by Next President?
Queted from TEMPO.CO, President’s special staff of economic and development, Firmanzah, asserted that the mining contract renegotiation will be not be decided by the President Susilo Bambang Yudhoyono. He said the strategic policy will be made by the new president elected on July 9 2014.
“During a cabinet meeting, the president asserted that he would not make any strategic policies, including the mining contract renegotiation, near the end of his terms of office,” Firmanzah toldTempo on Sunday, June 8, 2014.
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How is Freeport Morgan’s contract negotiation progress now?
Freeport-McMoran Copper & Gold still have contract (Kontrak Karya – KK) in Indonesia untl 2021 since 7 April 1967 and last renewals in 30 December 1991. Freeport can propose new extension in 2019, 2 years before its end. But after government isseud UU No 4/2009 about Mineral and Coal Mining, also PP 9/2012 about PNBP and Keppres Number 3/2013 Freeport and others mining corporation should be fulfill the provision from the government.
So, why Freeport looks inconvenience with this regulations? Since 1967 Freeport was contribute around 20-30 percent copper mining for their company production around he world. It’s not a small contribution for the total production. In others, gold mining contribute more that 90 percent for total productions besides their mine in South America, North America and Africa. If they fail to extend the contract, their production will be affected and makes huge influence for their company. Continue reading “How is Freeport Morgan’s contract negotiation progress now?” »
After Queen’s statements, Business going up
The government has announced a series of measures in the Queen’s Speech that it said were “unashamedly pro-work and pro-business”. Included in a raft of bills were proposals to make it easier for small businesses to access finance and remove red tape.
There will also be measures to tackle zero-hours contracts and national minimum wage abuses.
Some childcare regulations will also be made more flexible.
A corporate ownership bill will make it easier to punish rogue company directors by increasing the period for which they can be disqualified and awarding compensation to victims.
The bill will also introduce a public register of beneficial shareholders in a company. Continue reading “After Queen’s statements, Business going up” »
What is the Most Important in Aviation Industry?
The International Air Transport Association (IATA) has called on government institutions, airlines and aviation industry stakeholders to safeguard the development of Indonesia’s commercial airline industry by striving to meet international standards of coordination and safety.
“The key to unlocking the aviation industry’s future potential is a global mind-set that is supported by strong partnerships. Aviation connects people and business to make global expansion possible. Airlines must be profitable, safe and secure,” Tony Tyler, IATA’s director general and CEO said Monday in a statement made available to The Jakarta Post on the sidelines of the IATA 70th annual general meeting and World Air Transport Summit in Doha, Qatar. Continue reading “What is the Most Important in Aviation Industry?” »
Foreign Tourism came to Indonesia is Less than March
Tourism decreased 5.13 percent last April, falling from a March tally of 765,000 to 726,300 foreign arrivals.
The Central Statistics Agency (BPS) head Suryamin said that the decrease reflected recent trends, as Indonesia had for years witnessed a drop off in tourism during the month of April.
“The figure has always dropped from March to April. We hope we can make improvements in the future because tourism benefits the economy,” Suryamin said in Jakarta on Monday, as quoted bykontan.co.id. Continue reading “Foreign Tourism came to Indonesia is Less than March” »
IMF warns banking perform not properly
Banking reforms aimed at preventing another financial crisis have failed to make enough progress, the boss of the International Monetary Fund has warned.
IMF managing director Christine Lagarde blamed a combination of the complexity involved, industry lobbying and “fatigue” for the delay.
“The industry still prizes short-term profit over long-term prudence,” Ms Lagarde said at a conference on the future of capitalism.
She called for tougher global rules.
Ms Lagarde said some of the biggest problems were with the so-called “too-big-to-fail firms”, banks whose collapse would cause such a big knock-on effect on the wider economy that governments were still expected to rescue them.
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Millions vehicles will be deducted in China
China plans to remove six million vehicles that do not meet exhaust emission standards by the end of the year as a way of improving air quality. More than 300,000 vehicles will be decommissioned in the capital Beijing.
Recent findings from the state’s environmental agency showed that 31% of the air pollution in Beijing comes from vehicle exhaust fumes.
Next year, the government plans to scrap up to five million vehicles from other regions.
The action plan, aimed at strengthening control on vehicle emissions, “will be a major agenda item for the country’s energy savings, emissions reductions, and low-carbon development during the next two years”.
That is according to a statement on the government’s web portal
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World’s 10th-largest economy behind peers
Business news : from Jakpost
Indonesia’s position as the world’s 10th-largest economy, according to a 2011 report, immediately dims among Southeast Asian peers, such as Malaysia and Thailand, when it comes to gross domestic product (GDP) per capita.
In the 2011 World Bank-affiliated International Comparison Program (ICP) report, Indonesia — the region’s largest country in terms of economy and population — recorded US$2,058 billion in GDP expenditure and $8,539 in GDP expenditure per capita.
Malaysia’s GDP expenditure was only $606 billion but its GDP expenditure per capita was more than two times that of Indonesia, at $20,926, the report said. Meanwhile, Brunei was among five economies with the highest GDP per capita, after Qatar, Macau, Luxembourg and Kuwait.
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Gazprom get China National Petroleum Corp deals
Russia’s President Vladimir Putin has signed a multi-billion dollar, 30-year gas deal with China.
The deal between Russia’s Gazprom and China National Petroleum Corp (CNPC) has been 10 years in the making.
Russia has been keen to find an alternative energy market for its gas as it faces the possibility of European sanctions over the crisis in Ukraine.
No official price has been given but it is estimated to be worth over $400bn.
President Putin said in a statement to the Russian news channel Rossiya: “The price is satisfactory for both sides. Continue reading “Gazprom get China National Petroleum Corp deals” »
Norway Loses Reputation as Stable Investment
Norway, western Europe’s largest oil producer, is angering a growing number of oil and gas companies after dictating terms for offshore projects worth billions of dollars.
In the latest blow to the nation’s reputation, the opposition bloc last week defied the minority government and decided to force Statoil ASA (STL) and other producers to prepare to power North Sea developments from land, raising costs and potentially delaying the projects. That comes after last year’s surprise tax increase on oil output.
“Twice in a year, the framework for how oil companies operate has been changed,” said Erling Kvadsheim, head of licensing policy at the Norwegian Oil and Gas Association, a lobby group that represents groups such as Statoil, BP Plc (BP/) and Exxon Mobil Corp. (XOM) “This can make projects less profitable, because you have to include political risk in your calculations, and makes marginal projects less attractive.” Continue reading “Norway Loses Reputation as Stable Investment” »